Hardware Manufacturing Commercial Loans

With these commercial loans for hardware manufacturing, the SBA guarantees the lender that the loan will be repaid. This hardware manufacturing loan for $122,500 was given to an Illinois entrepreneur in 2003.

Getting a small business loan in Cicero, Illinois was important for this business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Park National Bank, operating out of Chicago, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: FABRICATED METAL PRODUCTS
CICERO, IL 60804

SBA Loan Lender

PARK NATIONAL BANK
801 N CLARK ST
CHICAGO, IL 60610

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3499 - Fabricated Metal Products

NAICS Code

332510 - Hardware Manufacturing

Loan Approval Date

9/11/2003

Loan Approval Gross Amount

$122,500

Loan Approval from the SBA

Of the total $122,500 loan amount, the SBA guaranteed $104,125.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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